Templeton Dragon Fund, Inc. (NYSE:TDF) Sees Large Drop in Short Interest

Templeton Dragon Fund, Inc. (NYSE:TDF) was the recipient of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 10,922 shares, a drop of 39.2% from the May 14th total of 17,967 shares. Based on an average daily trading volume, of 46,445 shares, the short-interest ratio is currently 0.2 days. Approximately 0.0% of the shares of the company are sold short.

Templeton Dragon Fund Trading Down 1.4%

Shares of Templeton Dragon Fund stock traded down $0.16 during trading hours on Tuesday, reaching $10.80. 108,401 shares of the company’s stock were exchanged, compared to its average volume of 66,015. Templeton Dragon Fund has a 52-week low of $9.42 and a 52-week high of $12.20. The company has a fifty day moving average of $11.14 and a 200-day moving average of $11.29.

Templeton Dragon Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 5.6%. This is a boost from Templeton Dragon Fund’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, June 23rd.

Institutional Investors Weigh In On Templeton Dragon Fund

Several large investors have recently modified their holdings of TDF. Royal Bank of Canada increased its stake in shares of Templeton Dragon Fund by 29.0% during the 1st quarter. Royal Bank of Canada now owns 4,450 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 1,000 shares during the last quarter. Compound Planning Inc. raised its position in shares of Templeton Dragon Fund by 3.9% during the 4th quarter. Compound Planning Inc. now owns 60,336 shares of the financial services provider’s stock valued at $679,000 after acquiring an additional 2,241 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Templeton Dragon Fund by 3.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 75,865 shares of the financial services provider’s stock worth $854,000 after purchasing an additional 2,800 shares during the period. Bank of America Corp DE boosted its position in shares of Templeton Dragon Fund by 1.2% during the third quarter. Bank of America Corp DE now owns 251,503 shares of the financial services provider’s stock worth $2,930,000 after buying an additional 3,083 shares during the period. Finally, Quantedge Capital Pte Ltd increased its position in shares of Templeton Dragon Fund by 10.3% in the first quarter. Quantedge Capital Pte Ltd now owns 41,716 shares of the financial services provider’s stock valued at $443,000 after acquiring an additional 3,900 shares during the last quarter. 47.20% of the stock is owned by institutional investors.

About Templeton Dragon Fund

Templeton Dragon Fund (NYSE:TDF) is a closed-end investment company managed by Franklin Templeton Investment Funds. Established in March 1987, the fund was one of the earliest U.S.-listed vehicles dedicated to providing exposure to the Greater China equity markets. Over its long operating history, Templeton Dragon Fund has sought to capture growth opportunities in a region undergoing rapid economic transformation.

The fund’s primary investment objective is long-term capital appreciation through a diversified portfolio of common stocks, depositary receipts and other equity-related securities of companies domiciled in, or deriving significant revenue from, Mainland China, Hong Kong and Taiwan.